23 May 2019 07:00
23 May 2019
StatPro Group PLC
AGM statement and trading update
StatPro Group plc, ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry, is holding its Annual General Meeting today.
Rory Curran, the Group's Chairman, will make the following statement:
"StatPro's aim is to become the world's leading cloud-based portfolio analytics provider.
"Over the past year, we have continued to make good progress towards this goal and our current trading remains in line with expectations.
"Looking ahead, our focus will be on these areas:
Improving our EBITDA margins in all areas of the business. The move to a divisional structure is designed to improve profitability and transparency. The three divisions, Revolution, Source: StatPro and Infovest, are performing in line with our expectations.Ensuring the Delta integration is a success. The Delta continuity project to integrate the Delta functionality into the Revolution platform continues to progress to plan and as regulations evolve, so we are providing our clients with extended services to mitigate their cost of meeting onerous and multiple requirements.
"We have recently announced two significant contract wins, one being a three-year contract, with an EU investment manager for Revolution Delta, with a minimum contract value of €1.2 million, including the addition of a new module to cover the new EU Money Market Regulations. We also secured a three-year contract extension with a top 20 Fund Administrator for Revolution, with a minimum contract value of £2.44 million.
"A key part of our strategy is to address the needs of the global fund administration industry to provide best in class cloud-based portfolio analytics technology to their asset management clients. We believe we have significant competitive advantage in this sector due to our technology and expertise.
"We continue to look for strategic acquisitions. We recently increased and extended our banking facilities to approximately £49.1 million in order to provide additional capacity for financing future acquisitions and to strengthen our long-term financial structure.
"With our investment in a massively scalable state-of-the-art cloud technology platform and our deepening relationships with asset management service providers, we are strategically well placed for future growth."
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this information is considered to be in the public domain.
Enquiries:
StatPro Group plc |
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Justin Wheatley, Chief Executive |
| +44 (0) 20 8410 9876 |
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Andrew Fabian, Finance Director |
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Panmure Gordon - Nomad and Broker |
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Corporate Finance - Freddy Crossley / Fabien Holler |
| +44 (0) 20 7886 2500 |
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Corporate Broking -James Stearns |
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Instinctif Partners |
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Adrian Duffield/Kay Larsen/Chantal Woolcock |
| +44 (0) 20 7457 2020 |
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About StatPro
StatPro Group (www.statpro.com) provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers.
The Group has 10 offices in Europe, North America, South Africa and Australia, servicing around 500 clients in 40 countries. It is organised into three divisions: Revolution, Source: StatPro and Infovest.
Revolution is a global provider of award-winning portfolio analytics solutions. The cloud-based platform offers vital analysis of portfolio performance, attribution, risk and compliance. Revolution helps clients reduce costs, improve client communication and control investment decisions.
Source: StatPro is a global market data business and provides Data-as-a-Service to Revolution to enable analytics. The division's integrated and global data coverage includes millions of securities covering the full range of financial instruments and benchmarks.
Infovest, supplies data management solutions for the global asset management market, including data warehouse technology, ETL, compliance and reporting tools as well as portfolio management solutions.
StatPro Group plc shares are listed on AIM.